Case Studies

Property letting, sales and investment case studies - BNP Paribas Real Estate UK  

Centrica

Helping Centrica secure a new sustainable Headquarters
Relocation of British Gas business to a new 100,000 sq ft headquarters in Oxford. Assisted client with business planning in respect of current leases on 3 properties. Effected critical path “timeline” in assistng delivery of new HQ to coincide with the expiry of the current leases.

  • Location Oxford Business Park
  • Key figures 100,000 sq ft gross floor space.
  • Contact Dan Bayley, +44 (0)20 7338 4444

 

The results

  • Centrica was able to deliver its objective to secure a new Headquarters for its growing British Gas Business brand.
  • The new development incorporates bio-mass boilers and photovoltaics, aiming to achieve an Energy Performance Certificate A Grade and BREEAM “Excellent”.
  • It has an option to take a building adjacent, giving it the flexibility to grow beyond its original plan.

The challenges

  • It had lease expiries in 2013 on existing buildngs at Oxford Business Park which meant that it needed to relocate.
  • Delivery of a new HQ incorporating sustainable technologies and consolidating various BGB sites to drive efficiencies.

What we did

  • We conducted a detailed analysis of available sites in the market and following a full space audit and demographic survey, we recommended Oxford as the correct location for this major new headquarters preletting. 
  • Three relocation options and three pre-letting options were identified.
  • We produced a business case which secured a mandate to negotiate detailed terms for a pre-letting of a new sustainable headquarters comprising approximately 100,000 sq ft at Oxford Business Park.
  • Working with Centrica we liaised with designers, architects and developers via a formal RFP process, and completed the deal in Q1 2011.
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